China's largest oil refiner's plan to seek social and private capital highlighted the country's endeavors to forge a mixed ownership economy amid further opening-up expectations.
China's top oil refiner Sinopec announced on Wednesday that it would bring in social and private capital to jointly market and sell its oil products, the first opening up of the largely monopolized area.
China's largest oil refiner, Sinopec, said on Monday that it will pay compensation for fatal pipeline explosions at a subsidiary in Qingdao City in east China's Shandong Province last November.
The Sinopec Group announced late Wednesday that it has suspended two company executives following the oil pipeline blast that killed 55 people in the east China city of Qingdao on Friday.
Shares of Sinopec, China's top refiner listed in both Shanghai and Hong Kong, opened to tumble on Monday following Friday's deadly oil pipeline blasts in east China's Shandong Province.
Sinopec Corp., Asia's biggest oil refiner, has said it is upgrading desulphurization facilities and will supply cleaner oil products from 2014 over public concerns about oil quality.
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